Boeing Raises 20-Year Global Airplane Market Forecast

Boeing is projecting a more robust outlook for worldwide aircraft demand in the coming decades, predicting the fleet of in-service commercial aircraft worldwide will double over the next 20 years.

In its latest 20-year forecast, the airframe manufacturer sees a demand for more than 35,000 airplanes worth $4.8 trillion, 3.8 percent higher than the 34,000 airplanes it projected with its 2012 forecast. Passenger traffic and cargo traffic are expected to grow by 5 percent annually over the next two decades.

Low-cost carriers from emerging markets are expected to drive demand, as Boeing predicts 24,670 new smaller single-aisle aircraft will be needed for those carriers.

Consistent with last year’s forecast, the Asia-Pacific region is expected to take the bulk of new airplane deliveries through 2032, followed by Europe and North America.

Randy Tinseth, vice president of marketing at Boeing, said airlines will be demanding more fuel efficiency, looking to replace their fleets of older aircraft with smaller and more fuel-efficient aircraft.

“These trends will shape market demand for airplanes that have high efficiency, low operating costs, environmentally progressive technologies and a great passenger experience,” said Tinseth.

In 2012, the global fleet of commercial aircraft was 20,310, and that is expected to double to more than 41,000 by 2032, Boeing said.